NJ Transit contract to cut costs hidden before fare hike vote

Apr 11, 2024 · The goal of a consultant hired to do a restructuring analysis of NJ Transit was to …

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No Fare Hikes In NJ Transit's $2.9B Budget, But Fiscal Cliff Still ...

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Jul 20, 2023 · NJ Transit’s board approved roughly $2.9 billion in spending for the 2024 fiscal …

newjerseymonitor.com

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NJ Transit Contract To Cut $300M In Costs Hidden From Public …

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The goal of a consultant hired to do a restructuring analysis of NJ Transit was to identify $300 …

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NJ Transit Contract To Cut $300M In Costs Hidden From Public

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NJ Transit contract to cut $300M in costs hidden from public before 15% fare hike vote 3 …

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NJ Transit Is Facing A Nearly $1B Hole In 2026. Why It May Get Worse

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Apr 20, 2023 · NJ Transit’s latest budget documents predict a larger impending fiscal crisis …

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NJ Transit Study Targets $600M In Budget Cuts, Expansion And …

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Apr 19, 2024 · A $6.7M feasibility study of NJ Transit would look at cuts, ways to expand …

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NJ State Senators Question Transportation Officials On FIFA, Bridge ...

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Apr 12, 2024 · The funding for NJ Transit in the proposed budget is $145 million, $3 million …

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Governor Phil Murphy - The Official Web Site For The State Of New …

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Nov 15, 2024 · Statement from Governor Murphy on $300 Million in Federal Funding for …

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FAQs about NJ Transit contract to cut costs hidden before fare hike vote Coupon?

Will NJ Transit meet a $1 billion funding shortfall?

(Fran Baltzer for New Jersey Monitor) NJ Transit’s board approved roughly $2.9 billion in spending for the 2024 fiscal year Wednesday night that comes with no fare hikes, but it remains unclear how the long-struggling agency will meet the $1 billion-plus funding shortfall it faces in the coming years. ...

How much money does NJ Transit spend a year?

The $3 billion in spending NJ Transit’s board approved represents an increase of roughly 4.7% over the prior year, one driven largely by non-payroll expenses. The agency’s material supply costs and miscellaneous expenses are forecasted to rise by 7.1% to $205.6 million and $324.4 million, respectively. ...

Will NJ Transit's $3 billion operating budget raise fare collection revenue?

(Dana DiFilippo | New Jersey Monitor) NJ Transit’s board approved a $3 billion operating budget that will spend the last of the agency’s federal COVID-19 relief dollars and is expected to sharply raise fare collection revenue following the agency’s first fare hikes since 2015. ...

What would a $6.7 million NJ Transit feasibility study look like?

A $6.7 million NJ Transit feasibility study would examine making up to 20% in budget cuts, propose how to expand service and suggest some early “quick win” ideas with a goal to deliver a full report in under a year. ...

How much money will NJ Transit send to the New Jersey Turnpike Authority?

The New Jersey Turnpike Authority will send NJ Transit $455 million under a 2021 deal that called for the authority to transfer nearly $3.6 billion to the beleaguered transit agency over seven years and continue providing funds until NJ Transit can operate without the authority revenue. ...

What will a NJ Transit downsizing entail?

They’ve revealed few details about what a potential downsizing might entail. Officials expect NJ Transit revenue to fall $119.4 million short of expenses in fiscal year 2025, when the agency is set to spend the last $749.3 million of its federal pandemic aid. The agency faces a $917.8 budget gap in the following year. ...